Burford Capital have reported that the class action against it has been withdrawn and the case dismissed. The litigation funder has found itself under attack following various statements from US short-seller Muddy Waters as to the financial strength of the company. An allegation which Burford has strenuously denied.
In King v City of London Corporation, the Court of Appeal held that Part 36 offers that excluded interest were not compliance with the Civil Procedure Rules. The decision follows a number of inconsistent court decisions that had added to the confusion.
Whilst Lord Justice Arnold appears to have left the door slightly ajar by inviting the rules committee to review the position – for the time being the decision of the Court of Appeal should clarify to all legal advisors that interest is an ancillary part of a Part 36 offer and is not severable.
The debacle surrounding the Post Office’s ill-fated dispute with a number of its sub-postmasters continues following a High Court judges decision to send evidence against employees of Fujitsu to the director of public prosecutions. The dispute, which has been going on for a number of years, centred around the Fujitusu Horizon system. A number of sub-postmasters found themselves pursued in both criminal and civil courts for misappropriation of funds despite repeated claims of their innocence. Whilst the dispute has since been resolved, the comments by the High Court judge of his “grave concerns” and the subsequent decision to file his findings with the DPP are likely to ensure that the story remains in the news for some time to come.
Later payment not consideration for Scottish bankrupt’s alienation Payments made to an insolvent debtor could not count as consideration for an earlier alienation by the debtor unless they were part of the agreement surrounding the original transfer; and payments to a discharged bankrupt were not capable, as a matter of law, of amounting to consideration for an alienation made prior to sequestration, the Inner House in Scotland has ruled.